Former state school employee Ellis paid in $101K to teachers' pension fund, could collect $1.67M in retirement

Former state school employee Lyn Ellis, who retired in June 2018, saved $100,699 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ellis would collect as much as $1.67 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Ellis received $35,206 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ellis will have already received $108,818 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.